The present invention generally relates to a supply chain business process. More particularly, the present invention concerns an automated system for such supply chain businesses which involve retailers, import consulting firms and suppliers.
Many goods sold in one country are manufactured and transported or exported to another country. Such is the case in the United States, wherein many goods are imported from other nations, such as Asian nations. This has to do with many factors, including the cost of labor, raw materials, etc., which are cheaper in the foreign country.
In the past, a retailer interested in purchasing products from the overseas manufacturer or vendor would either have to know of the manufacturer and vendor and contact them directly, or work with an import consulting firm. The import consulting firm would receive a request from the retailer, and match the overseas vendor or manufacturer that produced the item or was capable of producing the item with the retailer. The quotations were facsimiled or mailed to the import consulting firm by the vendor or manufacturer. The data from the quotations were then entered into spread sheets and the like which were then sent to the retailer, who typically manually entered their output into the retailer's quotation system.
The retailer would then issue purchase orders to the vendors, which were processed by the import consulting firm, and then sent via facsimile or electronic mail to the vendors. The import consulting firm would then typically work with the vendors, such as by telephone and electronic mail, to resolve any issues until the vendors confirm their purchase orders, either verbally or by electronic mail. The accounting department would then typically manually enter banking information and online applications for letters of credit (LC) and Telegraphic Transfers (TT), and manually process the payments against them. The import consulting firm would regularly have to contact the overseas vendor or manufacturer to confirm that the manufacturing and supply process was being performed in a timely manner and that the shipments would conform to prior-set schedules. This overall process is sometimes referred to as a “supply chain” business process. Working with an import consulting firm can be very important, if not critical, to the retailer in order to ensure that the desired goods are manufactured to specification, are purchased at a good and fair price, and that the shipments are timely.
However, there are many problems associated with this “supply chain” process. The quotation data, as indicated above, is manually entered numerous times, once by the vendor, again by the import consulting firm, and finally by the retailer. Due to the multiple manual entry, errors are common, resulting in substantial delays, increased costs, and labor to resolve. Communication with vendors and manufacturers (many of whom are located in Asian countries, such as China) in confirming purchase orders often result in substantial delays. The very fact that the entire supply chain process has been manual, rendered it very labor intensive, particularly for the import consulting firm.
Accordingly, there is a continuing need for an electronic system which automates, to a large extent or completely, the supply chain business process involving retailers, import consulting firms and overseas suppliers. The present invention fulfills this need, and provides other related advantages.